Wall Street analysts expect that ImmunoGen, Inc. (NASDAQ:IMGN) will report earnings per share of $0.11 for the current quarter, Zacks reports. Four analysts have provided estimates for ImmunoGen’s earnings. The lowest EPS estimate is ($0.04) and the highest is $0.19. ImmunoGen posted earnings of ($0.51) per share in the same quarter last year, which indicates a positive year over year growth rate of 121.6%. The business is expected to issue its next earnings report before the market opens on Friday, July 28th.

According to Zacks, analysts expect that ImmunoGen will report full year earnings of ($1.08) per share for the current year, with EPS estimates ranging from ($1.50) to ($0.85). For the next year, analysts forecast that the business will report earnings of ($1.40) per share, with EPS estimates ranging from ($1.59) to ($0.89). Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow ImmunoGen.

ImmunoGen (NASDAQ:IMGN) last posted its quarterly earnings results on Friday, May 5th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.16. The business had revenue of $28.70 million during the quarter, compared to the consensus estimate of $16.16 million. The business’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.37) earnings per share.

Several research firms have commented on IMGN. Leerink Swann upgraded shares of ImmunoGen from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $3.53 to $3.90 in a research report on Wednesday, April 19th. Cowen and Company reiterated a “hold” rating on shares of ImmunoGen in a research report on Saturday, May 6th. Jefferies Group LLC reiterated a “buy” rating and set a $6.00 price objective on shares of ImmunoGen in a research report on Wednesday, April 12th. Royal Bank Of Canada upgraded shares of ImmunoGen from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $5.00 to $12.00 in a research report on Thursday, July 6th. Finally, Canaccord Genuity set a $6.00 price objective on shares of ImmunoGen and gave the company a “buy” rating in a research report on Saturday, May 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $6.76.

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Several large investors have recently added to or reduced their stakes in IMGN. Ameriprise Financial Inc. purchased a new stake in ImmunoGen during the first quarter valued at about $1,528,000. UBS Asset Management Americas Inc. raised its stake in ImmunoGen by 148.6% in the first quarter. UBS Asset Management Americas Inc. now owns 68,097 shares of the biotechnology company’s stock valued at $264,000 after buying an additional 40,700 shares during the period. Bank of New York Mellon Corp raised its stake in ImmunoGen by 15.4% in the first quarter. Bank of New York Mellon Corp now owns 438,917 shares of the biotechnology company’s stock valued at $1,698,000 after buying an additional 58,516 shares during the period. Moloney Securities Asset Management LLC raised its stake in ImmunoGen by 36.2% in the first quarter. Moloney Securities Asset Management LLC now owns 274,450 shares of the biotechnology company’s stock valued at $1,062,000 after buying an additional 72,900 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in ImmunoGen by 11.1% in the first quarter. Janney Montgomery Scott LLC now owns 58,815 shares of the biotechnology company’s stock valued at $228,000 after buying an additional 5,893 shares during the period. Hedge funds and other institutional investors own 73.91% of the company’s stock.

Shares of ImmunoGen (NASDAQ IMGN) opened at 6.12 on Wednesday. The company’s market capitalization is $546.81 million. The firm has a 50-day moving average of $6.00 and a 200 day moving average of $4.11. ImmunoGen has a 1-year low of $1.51 and a 1-year high of $8.04.

ImmunoGen Company Profile

ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. The Company is engaged in the discovery of monoclonal antibody-based anticancer therapeutics. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.

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Earnings History and Estimates for ImmunoGen (NASDAQ:IMGN)

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